EIA: Strong Tight Oil Production Raises US Crude

Total domestic crude oil production recently pushed past the rest of the world’s crude oil production, according to the Energy Information Administration (EIA). The agency said March 26 that the jump in the U.S.’ supply volume is due to its strong production of tight oil.In fourth-quarter 2013, overall domestic crude oil production averaged 7.84 million barrels per day (MMbbl/d), the agency said, due to the 3.22 MMbbl/d of tight oil that were produced.That 3.22 MMbbl/d of tight oil pushed the country’s overall crude production past the rest of the world’s...